Common use of Agency for Perfection Clause in Contracts

Agency for Perfection. Each Lender hereby appoints each Agent and each other Lender as agent and bailee for the purpose of perfecting the security interests in and liens upon the Collateral in assets which, in accordance with Article 9 of the Code, can be perfected only by possession or control (or where the security interest of a secured party with possession or control has priority over the security interest of another secured party) and each Agent and each Lender hereby acknowledges that it holds possession or control of any such Collateral for the benefit of the Collateral Agent as secured party. Should any Lender obtain possession or control of any such Collateral, such Lender shall notify the Collateral Agent thereof, and, promptly upon the Collateral Agent’s request therefor shall deliver possession or control of such Collateral to the Collateral Agent or in accordance with the Collateral Agent’s instructions. Each Loan Party by its execution and delivery of this Agreement hereby consents to the foregoing.

Appears in 10 contracts

Samples: Financing Agreement (Russ Berrie & Co Inc), Financing Agreement (Gametech International Inc), Financing Agreement (PRG Schultz International Inc)

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Agency for Perfection. Each Lender hereby appoints each Agent and each other Lender as agent and bailee for the purpose of perfecting the security interests in and liens upon the Collateral in assets which, in accordance with Article 9 of the Uniform Commercial Code, can be perfected only by possession or control (or where the security interest of a secured party with possession or control has priority over the security interest of another secured party) and each Agent and each Lender hereby acknowledges that it holds possession of or control of otherwise controls any such Collateral for the benefit of Agent and the Collateral Agent Lenders as secured party. Should any Lender obtain possession or control of any such Collateral, such Lender shall notify the Collateral Agent thereof, and, promptly upon the Collateral Agent’s request therefor shall deliver possession or control of such Collateral to the Collateral Agent or in accordance with the Collateral Agent’s instructions. Each Loan Party by its execution and delivery of this Agreement hereby consents to the foregoing.

Appears in 8 contracts

Samples: Senior Loan and Security Agreement (Doma Holdings, Inc.), Loan and Security Agreement (Doma Holdings, Inc.), Loan and Security Agreement (Doma Holdings, Inc.)

Agency for Perfection. Each Lender hereby appoints each Agent and each other Lender as agent and bailee for the purpose of perfecting the security interests in and liens upon the Collateral in assets which, in accordance with Article 9 of the Code, can be perfected only by possession or control (or where the security interest of a secured party with possession or control has priority over the security interest of another secured party) and each Agent and each Lender hereby acknowledges that it holds possession or control of any such Collateral for the benefit of the Collateral Agent as secured party. Should any Lender obtain possession or control of any such Collateral, such Lender shall notify the Collateral Agent thereof, and, promptly upon the Collateral Agent’s request therefor shall deliver possession or control of such Collateral to the Collateral Agent or in accordance with the Collateral Agent’s instructions. Each Loan Party Borrower by its execution and delivery of this Agreement hereby consents to the foregoing.

Appears in 5 contracts

Samples: Loan and Security Agreement, Loan and Security Agreement (Adaptive Insights Inc), Loan and Security Agreement (Adaptive Insights Inc)

Agency for Perfection. Each Lender Holder hereby appoints each Agent and each other Lender Holder as agent and bailee for the purpose of perfecting the security interests in and liens upon the Collateral in assets which, in accordance with Article 9 of the Code, can be perfected only by possession or control (or where the security interest of a secured party with possession or control has priority over the security interest of another secured party) and each Agent and each Lender Holder hereby acknowledges that it holds possession of or control of otherwise controls any such Collateral for the benefit of Agent and the Collateral Agent Holders as secured party. Should any Lender Holder obtain possession or control of any such Collateral, such Lender Holder shall notify the Collateral Agent thereof, and, promptly upon the Collateral Agent’s request therefor shall deliver possession or control of such Collateral to the Collateral Agent or in accordance with the Collateral Agent’s instructions. Each Loan Party Obligor by its execution and delivery of this Agreement hereby consents to the foregoing.

Appears in 3 contracts

Samples: Note Purchase and Security Agreement (Lemonade, Inc.), Note Purchase and Security Agreement (Metromile, Inc.), Note Purchase and Security Agreement (INSU Acquisition Corp. II)

Agency for Perfection. Each Lender hereby appoints each the Agent and each other Lender as agent and bailee for the purpose of perfecting the security interests in and liens upon the Collateral in assets which, in accordance with Article 9 of the Uniform Commercial Code, can be perfected only by possession or control (or where the security interest of a secured party with possession or control has priority over the security interest of another secured party) and each the Agent and each Lender hereby acknowledges that it holds possession of or control of otherwise controls any such Collateral for the benefit of the Collateral Agent and the Lenders as secured party. Should any Lender obtain possession or control of any such Collateral, such Lender shall notify the Collateral Agent thereof, and, promptly upon the Collateral Agent’s 's request therefor shall deliver possession or control of such Collateral to the Collateral Agent or in accordance with the Collateral Agent’s 's instructions. Each Loan Party by its execution and delivery of this Agreement hereby consents to the foregoing.

Appears in 2 contracts

Samples: Financing Agreement (Gerber Scientific Inc), Financing Agreement (All Star Gas Corp)

Agency for Perfection. Each Lender hereby appoints each Agent and each other Lender as agent and bailee for the purpose of perfecting the security interests in and liens Liens upon the Collateral in assets which, in accordance with Article 9 of the Uniform Commercial Code, can be perfected only by possession or control (or where the security interest of a secured party with possession or control has priority over the security interest of another secured party) and each Agent and each Lender hereby acknowledges that it holds possession or control of any such Collateral for the benefit of the Collateral Agent as secured party. Should any Lender obtain possession or control of any such Collateral, such Lender shall notify the Collateral Agent thereof, and, promptly upon the Collateral Agent’s request therefor shall deliver possession or control of such Collateral to the Collateral Agent or in accordance with the Collateral Agent’s instructions. Each Loan Party Parent Holdco and each Borrower by its execution and delivery of this Agreement hereby or any joinder hereto hereby, on its behalf and on behalf of its Subsidiaries that are Loan Parties, consents to the foregoing.

Appears in 2 contracts

Samples: Subordination Agreement (Twist Beauty S.a r.l. & Partners S.C.A.), Revolving Credit, Term Loan and Security Agreement (Twist Beauty S.a r.l. & Partners S.C.A.)

Agency for Perfection. Each Lender hereby appoints each Agent and each other Lender as agent and bailee for the purpose of perfecting the security interests in and liens upon the Collateral in assets which, in accordance with Article 9 of the Uniform Commercial Code, can be perfected only by possession or control (or where the security interest of a secured party with possession or control has priority over the security interest of another secured party) and each Agent and each Lender hereby acknowledges that it holds possession or control control, as the case may be, of any such Collateral for the benefit of the Collateral Agent as secured party. Should any Lender obtain possession or control of any such Collateral, such Lender shall notify the Collateral Agent thereof, and, promptly upon the Collateral Agent’s 's request therefor shall deliver possession or control of such Collateral to the Collateral Agent or in accordance with the Collateral Agent’s 's instructions. Each Loan Party by its execution and delivery of this Agreement hereby consents to the foregoing.. ARTICLE XI

Appears in 1 contract

Samples: Credit Agreement (Packaged Ice Inc)

Agency for Perfection. Each Lender hereby appoints each Agent and each other Lender as agent and bailee for the purpose of perfecting the security interests in and liens upon the Collateral in assets which, in accordance with Article 9 of the Code, can be perfected only by possession or control (or where the security interest of a secured party with possession or control has priority over the security interest of another secured party) and each Agent and each Lender hereby acknowledges that it holds possession or control of any such Collateral for the benefit of the Collateral Agent as secured party. Should any Lender obtain possession or control of any such Collateral, such Lender shall notify the Collateral Agent thereof, and, promptly upon the Collateral Agent’s request therefor shall deliver possession or control of such Collateral to the Collateral Agent or in accordance with the Collateral Agent’s instructions. Each Loan Party The Borrower by its execution and delivery of this Agreement hereby consents to the foregoing.

Appears in 1 contract

Samples: Financing Agreement (Compass Group Diversified Holdings LLC)

Agency for Perfection. Each Agent and each Lender hereby appoints each other Agent and each other Lender as agent and bailee for the purpose of perfecting the security interests in and liens upon the Collateral in assets which, in accordance with Article 9 of the Code, can be perfected only by possession or control (or where the security interest of a secured party with possession or control has priority over the security interest of another secured party) and each Agent and each Lender hereby acknowledges that it holds possession or control of any such Collateral for the benefit of the Collateral Agent as secured party. Should any Lender obtain possession or control of any such Collateral, such Lender shall notify the Collateral Agent thereof, and, promptly upon the Collateral Agent’s request therefor shall deliver possession or control of such Collateral to the Collateral Agent or in accordance with the Collateral Agent’s instructions. Each Loan Party by its execution and delivery of this Agreement hereby consents to the foregoing.

Appears in 1 contract

Samples: Credit Agreement (Imperial Petroleum Inc)

Agency for Perfection. Each Agent and each Lender hereby appoints each other Agent and each other Lender as agent and bailee for the purpose of perfecting the security interests in and liens upon the Collateral in assets which, in accordance with Article 9 of the Code, can be perfected only by possession or control (or where the security interest of a secured party with possession or control has priority over the security interest of another secured party) and each Agent and each Lender hereby acknowledges that it holds possession or control of any such Collateral for the benefit of the Collateral Agent as secured party. Should any Lender obtain possession or control of any such Collateral, such Lender shall notify the Collateral Agent thereof, and, promptly upon the Collateral Agent’s 's request therefor shall deliver possession or control of such Collateral to the Collateral Agent or in accordance with the Collateral Agent’s 's instructions. Each Loan Party by its execution and delivery of this Agreement hereby consents to the foregoing.

Appears in 1 contract

Samples: Credit Agreement (KCS Energy Inc)

Agency for Perfection. Each Lender hereby appoints each Agent and each other Lender as agent and bailee for the purpose of perfecting the security interests in and liens upon the Collateral in assets which, in accordance with Article 9 of the Uniform Commercial Code, can be perfected only by possession or control (or where the security interest of a secured party with possession or control has priority over the security interest of another secured party) and each Agent and each Lender hereby acknowledges that it holds possession of or control of any otherwise controls such Collateral for the benefit of the Collateral Agent and Lenders as secured party. Should any Lender obtain possession or control of any such Collateral, such Lender shall notify the Collateral Agent thereof, and, promptly upon the Collateral Agent’s 's request therefor shall deliver possession or control of such Collateral to the Collateral Agent or in accordance with the Collateral Agent’s instructions's instructions or at Agent's option shall hold such possession or control as agent for purposes of perfection on behalf of Agent. Each Loan Party by its execution and delivery of this Agreement hereby consents to the foregoing.

Appears in 1 contract

Samples: Loan Agreement (Aerobic Creations, Inc.)

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Agency for Perfection. Each Lender hereby appoints each Administrative Agent and each other Lender as agent and bailee for the purpose of perfecting the security interests in and liens upon the Collateral in assets which, in accordance with Article 9 of the Code, can be perfected only by possession or control (or where the security interest of a secured party with possession or control has priority over the security interest of another secured party) and each Administrative Agent and each Lender hereby acknowledges that it holds possession or control of any such Collateral for the benefit of the Collateral Administrative Agent as secured party. Should any Lender obtain possession or control of any such Collateral, such Lender shall notify the Collateral Administrative Agent thereof, and, promptly upon the Collateral Administrative Agent’s request therefor shall deliver possession or control of such Collateral to the Collateral Administrative Agent or in accordance with the Collateral Administrative Agent’s instructions. Each Loan Party by its execution and delivery of this Agreement hereby consents to the foregoing.

Appears in 1 contract

Samples: Credit Agreement (Progressive Gaming International Corp)

Agency for Perfection. Each Lender Purchaser hereby appoints each Agent and each other Lender Purchaser as agent and bailee for the purpose of perfecting the security interests in and liens upon the Collateral in assets which, in accordance with Article 9 of the Code, can be perfected only by possession or control (or where the security interest of a secured party with possession or control has priority over the security interest of another secured party) and each Agent and each Lender Purchaser hereby acknowledges that it holds possession or control of any such Collateral for the benefit of the Collateral Agent as secured party. Should any Lender Purchaser obtain possession or control of any such Collateral, such Lender Purchaser shall notify the Collateral Agent thereof, and, promptly upon the Collateral Agent’s request therefor shall deliver possession or control of such Collateral to the Collateral Agent or in accordance with the Collateral Agent’s instructions. Each Loan Issuer Party by its execution and delivery of this Agreement hereby consents to the foregoing.

Appears in 1 contract

Samples: Note and Warrant Purchase Agreement (Progressive Gaming International Corp)

Agency for Perfection. Each Lender hereby appoints each Agent and each other Lender as agent and bailee for the purpose of perfecting the security interests in and liens upon the Collateral in assets which, in accordance with Article 9 of the CodeCode (or under the equivalent section of the PPSA), can be perfected only by possession or control (or where the security interest of a secured party with possession or control has priority over the security interest of another secured party) and each Agent and each Lender hereby acknowledges that it holds possession or control of any such Collateral for the benefit of the Collateral Agent as secured party. Should any Lender obtain possession or control of any such Collateral, such Lender shall notify the Collateral Agent thereof, and, promptly upon the Collateral Agent’s request therefor shall deliver possession or control of such Collateral to the Collateral Agent or in accordance with the Collateral Agent’s instructions. Each Loan Party by its execution and delivery of this Agreement hereby consents to the foregoing.

Appears in 1 contract

Samples: Financing Agreement (Magnetek Inc)

Agency for Perfection. Each Lender hereby appoints each Agent and each other Lender as agent and bailee for the purpose of perfecting the security interests in and liens upon the Collateral in assets which, in accordance with Article 9 of the Code, can be perfected only by possession or control (or where the security interest of a secured party with possession or control has priority over the security interest of another secured party) and each Agent and each Lender hereby acknowledges that it holds possession or control of any such Collateral for the benefit of the Collateral Agent as secured party. Should any Lender obtain possession or control of any such Collateral, such Lender shall notify the Collateral Agent thereof, and, promptly upon the Collateral Agent’s 's request therefor shall deliver possession or control of such Collateral to the Collateral Agent or in accordance with the Collateral Agent’s 's instructions. Each Loan Party by its execution and delivery of this Agreement hereby consents to the foregoing.

Appears in 1 contract

Samples: Financing Agreement (PRG Schultz International Inc)

Agency for Perfection. Each Lender hereby appoints each Agent and each other Lender as agent and bailee for the purpose of perfecting the security interests in and liens upon the Collateral in assets which, in accordance with Article 9 of the Code, can be perfected only by possession or control (or where the security interest of a secured party with possession or control has priority over the security interest of another secured party) and each Agent and each Lender hereby acknowledges that it holds possession or control of any such Collateral for the benefit of the Collateral Agent as secured party. Should any Lender obtain possession or control of any such Collateral, such Lender shall notify the Collateral Agent thereof, and, promptly upon the Collateral Agent’s request therefor shall deliver possession or control of such Collateral to the Collateral Agent or in accordance with the Collateral Agent’s instructions. Each Loan Party by its execution and delivery of this Agreement hereby consents to the foregoing.. 107

Appears in 1 contract

Samples: Financing Agreement (Spheris Inc.)

Agency for Perfection. Each Lender hereby appoints each the Collateral Agent and each other Lender as agent and bailee for the purpose of perfecting the security interests in and liens upon the Collateral in assets which, in accordance with Article 9 of the Uniform Commercial Code, can be perfected only by possession or control (or where the security interest of a secured party with possession or control has priority over the security interest of another secured party) and each the Collateral Agent and each Lender hereby acknowledges that it holds possession of or control of otherwise controls any such Collateral for the benefit of the Collateral Agent and the Agents and the Lenders as secured party. Should any Lender obtain possession or control of any such Collateral, such Lender shall notify the Collateral Agent thereof, and, promptly upon the Collateral Agent’s request therefor shall deliver possession or control of such Collateral to the Collateral Agent or in accordance with the Collateral Agent’s instructions. Each Loan Party by its execution and delivery of this Agreement hereby consents to the foregoing.

Appears in 1 contract

Samples: Financing Agreement (Modtech Holdings Inc)

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